Gahr & Young complete $13.5 Million Investement Sale in Los Angeles

Front of Building 2LOS ANGELES, CA – The industrial brokerage team of David Young, SIOR and Chad Gahr, SIOR, both Senior Vice Presidents with NAI Capital’s Encino office, along with Lyn Fields of Madison Partners, have successfully sold a NNN leased investment property located at 2714 Media Center Drive, within the Los Angeles Media Tech Center campus. 2714 Media Center Drive is NNN leased to the City of Los Angeles Bureau of Sanitation and was purchased by a 1031 exchange buyer based out of Orange County, CA. The 64,820 square foot building is part of the seven (7) building, 400,000 square foot LA Media Tech Center campus, which is a gated and security patrolled office campus setting, located between Downtown Los Angeles and Glendale. The value of the sales transaction was $13.5 million dollars.

“The building’s location within one of Los Angeles’ premier flex/office business parks, combined with a long history of tenancy by a government entity, generated

strong demand for the asset from investors all over the country. A strong appetite for high quality net-leased real estate by institutions and private investors alike was one of the chief reasons why the asset was taken to market unpriced. This approach helped maximize the sale price on behalf of our client,” noted Chad Gahr with NAI Capital.

The development offers up to 4 / 1,000 free parking, immediate access to Interstate 5, and is home to such corporate tenants as JP Morgan Chase and Apria Healthcare. This recent transaction comes on the heels of the sale of a four (4) building, 187,000 square foot portfolio sale within the Los Angeles Media Tech Center, which was also brokered by NAI Capital and Madison Partners in the 4th quarter of 2012.

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About NAI Capital – NAI Capital is a leading Southern California commercial real estate firm headquartered in Encino, California. With 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties, NAI Capital is the Southern California member of NAI Global, a premier real estate service network in 55 countries with 375 local offices and 6,700 local market leaders spanning the globe. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. Our extensive services include: multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit www.naicapital.com  NAI Capital Brokerage BRE #00806840.